gasoline futuresJanuary 2nd, 2019

Gasoline prices at the pump have dropped to their lowest in about a year and half, but could jump by 35% as soon as May, with output cuts by major oil producers expected to boost the price of oil, according to gasoline-price tracker GasBuddy.

The national average price for gallon of gasoline got its lowest start to a year since 2016, “when the national average was also near free fall and eventually hit $1.66 a gallon, said Patrick DeHaan, head of petroleum analysis at GasBuddy.

At an average of $2.229 Wednesday afternoon, gasoline prices were at their cheapest since July 2, 2017, he said, adding that a price of $2.22 would be the lowest since President Donald Trump entered office.

Prices have declined “nearly every day for the last 80 or so,” DeHaan said. “Americans are spending $260 million less on gasoline today than they did some 80 days ago.”

GasBuddy’s 2019 gasoline forecast released Wednesday shows gasoline averaging $2.70 a gallon this year. That would mark a modest three-cent decline from the average for 2018.

In a tweet early Wednesday, President Donald Trump said the low gas prices “are like another Tax Cut!”

Trump’s actions on trade with China will have a big impact on retail prices for gasoline, said DeHaan. “I really see his decision playing a decent size role,” he said, with a China trade deal being “big enough to push the economy up or down, depending on specifics.”

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Gasoline Prices Near Lowest Of Year

On November 26, 2018, in gasoline futures trading news, by Infinity Trading
gasoline futures brokers

gasoline futures brokers

November 26, 2018

Gasoline prices are quickly approaching the lowest prices of the year, and motorists should see additional discounts this week. Just as retailers cut prices on Black Friday, the price of crude also dropped by more than 10 percent – amid concerns that strong global oil production will overpower demand.

Gasoline prices in Georgia are closing in on the lowest of 2018. Sunday’s daily average of $2.39 per gallon is 4 cents higher than this year’s lowest price, established on January 1. The Georgia state average has declined a total of 41 cents in the past 44 days. During the past week alone, it dropped 9 cents

Average prices are at or near the lowest of the year in metro areas like Albany, Atlanta, Columbus, Dalton, Gainesville, Rome, and Valdosta. Click here and scroll down to check daily metro average gas prices.

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Gasoline Futures Prices Continue Slide

On December 30, 2014, in gasoline futures trading news, by Infinity Trading
gasoline futures prices

gasoline futures prices

December 29th, 2014

Gasoline prices fell nearly 75 cents per gallon over the past year in Western Pennsylvania, an online analyst reported Monday, as oil prices driving the discount continued to tumble.

The average price at the pump dropped 7 cents last week to an average of $2.66 per gallon, according to’s latest survey of 731 stations in the Pittsburgh region. Motor club AAA put the average price for Western Pennsylvania at $2.64 a gallon.

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gasoline futures brokers

gasoline futures brokers

December 18, 2014

U.S. drivers are paying less than $2.50 a gallon at the pump for the first time in more than five years.

Retail gasoline prices slipped to an average $2.477 a gallon last night, data from the Heathrow, Florida-based motoring group AAA showed. That’s down from this year’s peak of $3.696 in April, and the first time the average has dipped below $2.50 since October 2009.

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gasoline futures prices

gasoline futures prices

gasoline futures prices

gasoline futures prices

October 30th, 2014

The push to end a four-decade limit on exporting U.S. oil may get a boost from a government study set for release as soon as today that will explain the relationship between crude oil and domestic gasoline prices.

Supporters of lifting the ban anticipate the Energy Information Administration analysis will affirm what they suspect: that overseas sales won’t raise the price Americans pay at the pump because the price of gasoline is tied to the global oil supply.

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February 07, 2012

Gasoline Futures – California-blend gasoline weakened against futures amid analyst estimates that U.S. stockpiles of motor fuels increased last week.

Stockpiles of gasoline probably rose 875,000 barrels from 230.1 million barrels last week, the median of 10 responses in a Bloomberg News survey of analysts. The Energy Department reports inventory statistics tomorrow at 10:30 a.m. in New York.

Carbob in Los Angeles slipped 1.75 cents to a premium of 10 cents a gallon against gasoline futures traded on the New York Mercantile Exchange at 4:12 p.m. East Coast time, according to data compiled by Bloomberg. Prompt delivery of the fuel fell 1.79 cents to $3.0275 a gallon.

The discount for Carbob in San Francisco widened 1.25 cents to 3.5 cents against futures.

U.S. gasoline stockpiles rose 4.43 million barrels last week, the American Petroleum Institute’s weekly report showed. Distillate fuel inventories gained 386,000 barrels, the API report said.

API collects stockpile information on a voluntary basis from operators of refineries, bulk terminals and pipelines. The government requires that reports be filed with the Energy Department for its weekly survey.

California-blend, or CARB, diesel in Los Angeles weakened 1.13 cents to a discount of 0.25 cent to Nymex heating oil futures. San Francisco CARB diesel weakened 0.5 cent to a discount of 0.5 cent to futures.

The discount to futures for conventional, 87-octane gasoline in Portland, Oregon, narrowed 3 cents to 16 cents.

–With assistance from Lynn Doan in San Francisco and Moming Zhou in New York. Editors: Richard Stubbe, Charles Siler

- Gene Laverty in Calgary at Bloomberg.

January 27, 2012

Gasoline futures jumped to the highest level since August and amid signs Greece is near an agreement with its creditors.

Futures rose 1.1 percent this week after gasoline surged on speculation that refinery outages and plant closures will cut supplies. Olli Rehn, the European Union’s commissioner for economic and monetary affairs, said an agreement is “very close” on private-sector involvement in a Greek debt swap.

“The closing of a number of refineries in the Northeast is making people very supply-conscious during a period with weak gasoline demand,” said Peter Beutel, president of trading advisory company in New Canaan, Connecticut. “Expectations that they will put together a Greek deal soon are lifting the entire complex.”

Crude oil futures for March delivery increased $1.10 this week to settle at $99.56 a barrel on the New York Mercantile Exchange. Prices have climbed 16 percent in the past year. Futures slipped 14 cents today.

Brent oil for March settlement gained $1.60, or 1.5 percent, this week to $111.46 a barrel on the London-based ICE Futures Europe exchange. The futures ended today’s session up 67 cents, or 0.6 percent.

Gasoline futures for February delivery advanced 8.02 cents, or 2.8 percent, today to $2.9268 a gallon, the highest settlement since Aug. 31. Prices gained 5.1 percent this week.

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January 20th, 2012

Gasoline futures fell after U.S. demand slid to a 10-year low and as concern that an agreement between Greece and its creditors will take longer to be reached sent the euro lower.

Gasoline futures declined a second straight day as the Energy Department estimated consumption tumbled last week to the lowest level since September 2001. Greek creditors and government officials were scheduled to meet a third day to hammer out details of a debt-swap deal.

“The Greek situation is basically back and forth and that’s kind of a negative for the market,” said Phil Flynn, vice president of research at PFGBest in Chicago. “And gasoline demand is bad.”

Gasoline futures for February delivery fell 2.57 cents, or 0.9 percent, to $2.7901 a gallon at 9:49 a.m. on the New York Mercantile Exchange. Prices have risen 2 percent this week.

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Gasoline Futures Surge to Three-Month High

On January 18, 2012, in gasoline futures trading news, by Infinity Trading

January 18th, 2012

Gasoline futures advanced to a four- month high after Hovensa LLC said it will shut its St. Croix refinery in the U.S. Virgin Islands because of mounting losses and low demand.

Gasoline futures gained 2 percent. The closing of the 350,000- barrel-a-day Hovensa plant, which supplied 2.7 percent of U.S. East Coast gasoline demand in October, follows the shutdown of two Pennsylvania refineries by Sunoco Inc. (SUN) and ConocoPhillips. New York Harbor is the delivery point for reformulated gasoline blendstock, or RBOB, and heating oil futures on the New York Mercantile Exchange.

“In conjunction with the recent Sunoco and Conoco shutdowns, RBOB supplies during the upcoming driving season could become quite tight resulting in significant price volatility, especially if one of the remaining Northeast refineries should have an outage,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

Gasoline futures for February delivery rose 5.41 cents to $2.8254 a gallon on the New York Mercantile Exchange, the highest settlement since Sept. 8.

Preliminary volume in electronic trading for gasoline was 185,607 contracts as of 2:37 p.m. in New York, 51 percent above the three-month average. Heating oil volume was 194,200 contracts, 39 percent higher than the average.

Hovensa, a partnership of Hess Corp. (HES) and Petroleos de Venezuela SA, said it will shut the St. Croix plant by mid- February and convert it into an oil storage terminal.

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December 28th, 2011

Gasoline futures fell the most in two weeks on speculation that demand for the motor fuel won’t improve as consumption has failed to keep pace with 2010 levels.

Gasoline futures declined for the first time in seven sessions as consumption in the four weeks ended Dec. 16, measured by deliveries to wholesalers, was 4.7 percent below a year earlier, Energy Department data show. Retail gasoline use through Dec. 23 was down 1.6 percent from 2010, according to MasterCard Inc. (MA)’s SpendingPulse report today.

“There’s continued decline in gasoline demand in a year- on-year comparison,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

Gasoline futures for January delivery fell 4.1 cents, or 1.5 percent, to $2.6478 a gallon at 2:13 p.m. on the New York Mercantile Exchange, after touching a low of $2.6388. Prices are up 7.9 percent this year, after rising as much as 41 percent through April 29.

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